December 18, 2017 / 12:38 PM / a year ago

Chile's IPSA up more than 5 pct on conservative Pinera's win

SANTIAGO, Dec 18 (Reuters) - Chile’s IPSA stock index opened up over 5 percent on Monday, led by retailer Falabella, energy firm Enel Americas and bank Santander Chile, following a resounding win by conservative billionaire Sebastian Pinera in Sunday’s presidential election.

Pinera, the investor favorite, has promised to cut corporate taxes and red tape and boost growth in the world’s top copper producer.

Chile’s IPSA had posted its highest weekly gain in eight years in the week ahead of the election, as the price of copper, the country’s main export, rose, alongside expectations of a Pinera win. (Reporting by Dave Sherwood and Felipe Iturrieta Editing by Chizu Nomiyama)

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